THINKING ahead is more crucial to sound business management, than ever before, according to Business Training Consultants' managing director Leigh Rachow.

She said developing and implementing a business plan may be the most important management investment any business could make, and was like the 'new challenge' being faced by business today.

Business Training Consultants held its first of five, federally-funded succession planning workshops last week, to help business owners and managers develop strategies for effective business planning and succession planning.

The workshop focused on two critical aspects of a business and succession plan: managing the operations of the business, and the people factor - the major stakeholders in achieving the goals of the business.

Over the next 10 months, 15 business owners will develop their skills and knowledge through interactive workshops, with one:on-one mentoring available to develop their business and succession plans.

Ms Rachow, a business owner for 23 years on the Sunshine Coast, said she accredited her business survival to effective business and succession planning.

"It's never too early to develop a succession plan," she said.

"In fact, it should be the fifth element to your business plan. Both are of critical importance to the longevity of your business."

Visit www.scba.com.au/business for more details on the mentoring programs, which are funded by the federal government.

MAKING PLANS: Business mentor Rod Richards talks to the participants in a course about succession planning.

AFTER five years working flat out in her Mel-corp Breathalysers Direct business, Shirley Neale said the time had come to start working on the business.

Shirley and her daughter Carly were among 17 people who signed on for the final Young Entrepreneurs Program, funded by the Federal Government and being run by the Sim-shine Coast Business Academy.
Previous programs have been restricted to a younger demographic with less experience in their businesses, but the final program has been thrown open.

The first full-day workshop of the six-month program, covering business planning, was held in Maroochydore on Tuesday.

Presenter Rod Richards said research had shown as many as 85% of businesses did not have a
working business plan.

"Some people think they're too expensive, or they take too much time, or they simply don't know how to do one," he said.

"But they're a crucial part of any business... they're the road map, they provide measured outcomes. Without one it's hard to know where you're going."

Mr Richards said once a business plan had been developed (he said the minimum timeframe could be one year, but as many as three or five), it was crucial to monitor it daily, particularly cash flows, and review it monthly as a minimum.

Shirley said while her company, which sells five different types of breathalysers - largely to the mining industry but also to police forces and in increasing numbers to concerned parents wanting to test their teenage children - was doing well, she wanted to learn more about running the operation more effectively.

"There's no doubt I haven't been working on the business enough," she said.

"I did the Women in Business Coaching Program recently... I think you've got to learn everything you can."
The YEP course will include sessions on topics including marketing plans, risk analysis, customer service and financial plans.

As well as the workshops, the course includes one-on-one mentoring and networking.

GOOD PLAN: YEP presenter Rod Richards talks business planning at the first workshop last week.